TAIPEI (Reuters) -Taiwan’s trade-reliant economy grew at a slightly slower pace in the third quarter but beat forecasts, with the tech sector continuing to reap the benefits of the artificial intelligence (AI) boom, while the overall economy contends with U.S. tariffs.
Taiwan’s gross domestic product grew 7.64% year-on-year in the July-September quarter, the Directorate General of Budget, Accounting and Statistics said on Friday. That was better than the 6.0% forecast by economists in a Reuters poll but lagged the 8.01% growth rate in the second quarter.
Taiwan’s key industry of semiconductor chips is currently exempt from the 20% U.S. tariffs on Taiwanese exports in effect since August.
Taiwan remains in talks with the United States to get that rate reduced.
(Reporting by Faith Hung and Jeanny Kao; Editing by Ben Blanchard and Kim Coghill)
Comments